Wedding Insurance Sounds Like a Gimmick

Maybe it does sound a little gimmicky… Wedding Insurance gets a lot of objections.  The main objection I get when bringing up the idea of Wedding Insurance is  “They (insurance carriers) just want my money, you’re trying to sell me something I don’t need”.  Another objection I’ve heard to Wedding Insurance is, “It must be impossible to collect on or they (insurance carriers) wouldn’t sell it.”

Wedding Insurance at first glance looks like an unnecessary expense when coupled with all the other things you have to think about and pay for when planning a wedding.

I get it, I got married a little over a year ago (June 2009) and I remember how the cost just kept climbing with each feature of the wedding we added, Venue, Food, Booze, DJ, Flowers, Favors, Invitations, Fire Jugglers…

Not a Gimmick

According to Travelers Insurance the average wedding cost in the U.S. is $27,000.  If you had a $27,000 car would you insure it?  What about a $27,000 barn?  What about a piece of jewelry that cost $27,000?  There is a good chance you would spend the money to insure all those things.  Why then does it seem a stretch to insure your wedding?

Talk To Me In Numbers

Let’s say you have a 120 people confirmed for your Spring wedding at a beautiful outdoor garden…

• Photographer = $4,000
• DJ = $3,000
• Videographer = $3,000
• Caterer = $16,000
• Flowers = $4,000
  

Standard procedure for most wedding vendors is half down a month or so before the wedding. You’re out of pocket right now $15,000.

Soooo, a week before the big day its starts to rain.  It rains all week, because it’s Springtime in Upstate New York and that’s what it does in Upstate New York in the Spring.

No one really gives the rain a second thought.  The rain eventually let’s up and stops the night before the Wedding.  Not a big deal, until the Garden Event Coordinator calls you the morning of the Wedding to let you know that the place is a complete mud-hole, swamp mess and there is no way You are having your wedding there today.  Oh yeah, and they are booked solid till next year…

Can you say non-refundable deposits?

Other Claim Scenarios

How about a Wedding that is planned for Nantucket Island and a late summer tropical storm moves up the East coast. No boats allowed on island. Wedding postponed = $26,000 Lost

How about a newly constructed Wedding venue originally expected to open in time for the wedding, delayed construction pushed the completion date back.  Wedding postponed = $16,000 Lost

How about a Wedding reception venue sold and shut down after Wedding booked and paid for.  Wedding postponed = $12,000 Lost

How about a Bride and Groom held responsible for damage to antique table done by guests. Wedding Liability = $7,000 Owed to owner

The Rub

Wedding Insurance is extremely inexpensive for the coverage you are provided.  For those of you reading this that are or have ever been married you understand the stress this day can cause (It shouldn’t cause stress, but does…). Why not make a relatively small investment (We’re talking ~$400-$700) to give your family, your fiance, and yourself some piece of mind.

Disclaimer:

This article is for informational purposely only. There is no legal advice being suggested or proffered and the author assumes no responsibility or liability for the actions take or not taken by the readers based upon such information.

Thank you,

Ryan H.

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